NGEx Minerals Correlations

NGEX Stock

29.94 0.63 2.15%

The current 90-days correlation between NGEx Minerals and NovaGold Resources is 0.65 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NGEx Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NGEx Minerals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NGEx Minerals Correlation With Market

Very poor diversification

The correlation between NGEx Minerals and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NGEx Minerals and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NGEx Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NGEx Minerals when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NGEx Minerals - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NGEx Minerals to buy it.

Moving together with NGEx Stock

0.93	TECK-B	Teck Resources	Pair Corr
0.9	IVN	Ivanhoe Mines	Pair Corr
0.88	SKE	Skeena Resources	Pair Corr
0.91	FOM	Foran Mining	Pair Corr
0.83	ALS	Altius Minerals	Pair Corr
0.61	SGML	Sigma Lithium Resources	Pair Corr
0.68	OMM	Omineca Mining	Pair Corr
0.61	MG	Magna International	Pair Corr
0.72	BTE	Baytex Energy Corp	Pair Corr
0.82	AGI	Alamos Gold	Pair Corr
0.79	BTO	B2Gold Corp	Pair Corr
0.87	SGR-U	Slate Grocery REIT	Pair Corr
0.84	PML	Panoro Minerals	Pair Corr
0.62	TUF	Honey Badger Silver	Pair Corr
0.68	SBI	Serabi Gold PLC	Pair Corr
0.87	BPF-UN	Boston Pizza Royalties	Pair Corr
0.83	CWEB	Charlottes Web Holdings	Pair Corr
0.82	MGG	Minaurum Silver	Pair Corr
0.83	FTT	Finning International	Pair Corr
0.88	MKO	Mako Mining Corp	Pair Corr
0.79	PSLV	Sprott Physical Silver	Pair Corr
0.76	PWF-PA	Power Financial Corp	Pair Corr
0.64	ETG	Entree Resources	Pair Corr
0.71	BBB	Brixton Metals Earnings Call This Week	Pair Corr
0.88	ACQ	Autocanada	Pair Corr
0.77	PDV	Prime Dividend Corp	Pair Corr
0.67	WPRT	Westport Fuel Systems	Pair Corr

Moving against NGEx Stock

0.67	DLC	DLC Holdings Corp	Pair Corr
0.49	QYOU	Qyou Media Split	Pair Corr
0.36	VRY	Petro Victory Energy	Pair Corr

Related Correlations Analysis

	NG	USA	ERD	KNT	OLA	WGX	SJ	DSV	TXG
NG		0.52	0.58	0.55	0.64	0.53	0.23	0.63	0.52	NG
USA	0.52		0.69	0.94	0.93	0.96	0.7	0.96	0.61	USA
ERD	0.58	0.69		0.73	0.69	0.7	0.26	0.73	0.83	ERD
KNT	0.55	0.94	0.73		0.9	0.96	0.78	0.93	0.54	KNT
OLA	0.64	0.93	0.69	0.9		0.96	0.65	0.89	0.64	OLA
WGX	0.53	0.96	0.7	0.96	0.96		0.75	0.92	0.59	WGX
SJ	0.23	0.7	0.26	0.78	0.65	0.75		0.64	-0.01	SJ
DSV	0.63	0.96	0.73	0.93	0.89	0.92	0.64		0.63	DSV
TXG	0.52	0.61	0.83	0.54	0.64	0.59	-0.01	0.63		TXG
	NG	USA	ERD	KNT	OLA	WGX	SJ	DSV	TXG

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

WGX	+ 0.96	USA
DSV	+ 0.96	USA
WGX	+ 0.96	KNT
WGX	+ 0.96	OLA
KNT	+ 0.94	USA
OLA	+ 0.93	USA

High negative correlations

TXG

- 0.01

Risk-Adjusted Indicators

There is a big difference between NGEx Stock performing well and NGEx Minerals Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze NGEx Minerals' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NG	3.52	0.33	0.07	0.22	5.10	(4.03)	7.96	(7.47)	31.36
USA	4.33	0.95	0.19	0.42	4.70	(4.75)	8.70	(6.89)	32.50
ERD	2.77	0.06	0.02	0.07	3.37	(2.99)	6.02	(5.70)	25.72
KNT	2.08	0.57	0.17	0.47	2.77	(2.14)	4.61	(3.60)	13.97
OLA	3.17	0.54	0.10	0.59	4.54	(3.18)	8.35	(7.97)	24.24
WGX	2.46	0.38	0.11	0.27	2.98	(2.61)	4.86	(5.37)	16.16
SJ	1.22	0.18	0.12	0.30	1.11	(1.45)	3.10	(1.94)	6.65
DSV	3.81	0.61	0.13	0.32	4.78	(4.08)	9.52	(7.99)	26.75
TXG	2.60	(0.12)	0.00	(0.04)	0.00	0.00	5.38	(7.96)	19.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in NGEx Minerals without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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NGEx Minerals Corporate Management

Elected by the shareholders, the NGEx Minerals' board of directors comprises two types of representatives: NGEx Minerals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NGEx. The board's role is to monitor NGEx Minerals' management team and ensure that shareholders' interests are well served. NGEx Minerals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NGEx Minerals' outside directors are responsible for providing unbiased perspectives on the board's policies.

Fernando Caruso	Consultant	Profile
Jeffrey Yip	Chief Officer	Profile
Judy McCall	Corporate Secretary	Profile
Brent Bonney	Vice IR	Profile
Jeffrey CPA	Chief Officer	Profile
PEng BASc	Vice Exploration	Profile

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